Most people in life want one thing and that is to be able to enjoy their life without having to work all the time.
Omniwealth
Have a Plan B if your off-the-plan property is undervalued
Off-the-plan investors are starting to feel the pressure as their properties are not holding to their original value. How should an investor respond?
If you can’t answer these questions, you don’t have a financial plan!
Apparently eight out 10 Australians don’t get any formal financial advice. Earlier this year ASIC found that while 44 per cent of Australians said they have a short-term financial plan only 23 per cent said they had a long-term financial plan.
New Financial Year wealth tips
Steven Korner suggests six key ways to help build wealth and propel you on your path to financial independence.
Buy property through SMSF in your 30s
Omniwealth thinks that investors in their 30s are the perfect age to purchase property within an SMSF. Leaving such a major investment decision until your mid to late 40s may not work for many investors and the lenders that are needed to make it all happen.
Proposed increase in SMSF members from 4 to 6
In the 2018 Federal Budget the Government proposed increasing the limit on the maximum allowable number of members in an SMSF (and a Small Apra Fund or SAF) from four to six members. This change is proposed to take effect from 1 July 2019. Currently the maximum allowable number of members is four with the clear majority of SMSFs having either one or two members only.
Need to measure household expenditure accurately for lending purposes
In light of the royal commission there has been much scrutiny towards the banks and by mortgage brokers. One of the key findings within the Royal Commission is the lack of verification of customer living expenses from mortgage brokers and the acceptance by the banks.
Getting your SMSF compliance right
Self-managed superannuation funds (SMSFs) now account for the management of almost one-third of all superannuation in Australia. Here are a few tips to help you ensure your SMSF is always compliant.